US Treasury Secretary Scott Bessent told Fox Business Network that the insurance plan, together with possible naval escorts, should help restore shipping activity in the region quickly. He said the issue could be resolved within one to two weeks, although no firm timetable was given.
A shipping expert cautioned, however, that the measure may not be enough to fully reassure the energy shipping industry if the conflict worsens further.
Noam Raydan, a senior fellow at the Washington Institute for Near East Policy, said the maritime and energy sectors would remain likely channels for Iranian retaliation if the war escalated.
She also warned that any renewed attacks by the Iran-backed Houthis on vessels in the Red Sea could further undermine confidence. In that scenario, two critical chokepoints for global trade would be exposed to military threats at the same time.
Oil shipments through the Strait of Hormuz have been largely obstructed, with some tankers damaged by strikes and others left stranded. At the same time, war-risk premiums have jumped and some insurance providers have reduced or withdrawn coverage altogether.